LUXURY CONSUMERS ESSENTIAL TO HOLIDAY SHOPPING
A study released yesterday shows that luxury consumers will spend nearly twice as much as middle-income consumers on gifts this holiday season. Unity Marketing’s latest survey revealed that luxury consumers – the top 25% of U.S. households that average $149,100 a year – plan to spend an average of $1,903 on holiday gift purchases.
Trading up among consumers seems to be the central theme here, so affluent marketing will get you everywhere this December. Providing shoppers with an enjoyable shopping experience is key.
“This year wealthy men, especially those of the baby-boomer generation, will spend the most buying holiday gifts,” says Pam Danziger, president of Unity Marketing.
Luxury consumers are also more willing to go above and beyond your typical holiday gift by putting in a little extra thought. They’re much more likely to choose gifts of clothing and fashion accessories, consumables (gourmet food, wine and spirits, gift baskets) and experiential gifts (dining, entertainment tickets, spa packages) than the typical consumer is.
Up to 45% of luxury consumers say they are very likely to shop for gifts in department stores (Nordstrom, Neiman Marcus, Saks and Macy’s) while 44% plan to gift shop through a non-store or online retailer.
“While luxury consumers comprise only one-fourth of the population, their high incomes make them a particularly powerful segment for the nation’s retailers. The key to capturing their shopping dollars is not so much to offer deep discounts on merchandise, but to entice them with engaging shopping experiences,” continued Danziger.
Trading up among consumers seems to be the central theme here, so affluent marketing will get you everywhere this December. Providing shoppers with an enjoyable shopping experience is key.
“This year wealthy men, especially those of the baby-boomer generation, will spend the most buying holiday gifts,” says Pam Danziger, president of Unity Marketing.
Luxury consumers are also more willing to go above and beyond your typical holiday gift by putting in a little extra thought. They’re much more likely to choose gifts of clothing and fashion accessories, consumables (gourmet food, wine and spirits, gift baskets) and experiential gifts (dining, entertainment tickets, spa packages) than the typical consumer is.
Up to 45% of luxury consumers say they are very likely to shop for gifts in department stores (Nordstrom, Neiman Marcus, Saks and Macy’s) while 44% plan to gift shop through a non-store or online retailer.
“While luxury consumers comprise only one-fourth of the population, their high incomes make them a particularly powerful segment for the nation’s retailers. The key to capturing their shopping dollars is not so much to offer deep discounts on merchandise, but to entice them with engaging shopping experiences,” continued Danziger.
posted at 1:12 PM
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